Cross elasticity of demand measures consumer responsiveness to a change in the price of one good, in terms of the quantity demanded of some other good.

Name: Cross elasticity of demand measures consumer responsiveness to a change in the price of one good, in terms of the quantity demanded of some other good.
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Cross elasticity of demand quantifies how the quantity demanded of one good responds to a change in the price of another good, indicating whether the goods are substitutes or complements.

Cross Elasticity of Demand Measures Consumer Responsiveness to a Change